Oracle/Tesla Tycoon Larry Ellison Owns At Least $1 Billion Worth Of Real Estate Around The US

By on April 27, 2021 in ArticlesBillionaire News

Billionaire Oracle founder Larry Ellison sure does like real estate. Just a few weeks ago, he added an $80 million mansion in North Palm Beach, Florida to his extensive portfolio. As we mentioned in our previous coverage, by changing his residence from California to Florida, Larry will pay for that house in about three months with his dividend tax savings alone. And then every three months he'll generate another $80 million in tax savings, which he can use to service the mortgage on his $1 billion American real estate portfolio.

The majority of Ellison's $89 billion net worth comes from his stake in Oracle, which he co-founded in 1977. Ellison also has a stake in Tesla worth more than $10 billion.

He's been investing his money in real estate for decades.

Ellison's $1 billion real estate portfolio includes properties in Malibu, Hawaii, Florida and Rhode Island. Of course, the crown jewel of his portfolio is the Hawaiian island of Lanai. He bought 98% of Lanai in 2012 for $300 million. Let's take a look at a few of his more notable properties.

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Woodside, California

Ellison's Silicon Valley area home is famously inspired by Japanese Imperial design. It sits on 23 acres and the main home is 8,000 square feet. He reportedly spent $200 million to upgrade the property's 10 buildings. The property also has a tea house, koi pond, and lake.

San Francisco, California

Ellison's San Francisco home is valued at more than $20 million. The 10,000 square foot, five-bedroom home has been Ellison's for decades. Located on Billionaire's Row, it was built in 1958.

Lake Tahoe, California

Ellison owns a number of homes in gorgeous Lake Tahoe. Back in 2018, he bought the famous CalNeva Lodge out of bankruptcy for $35.8 million. The resort was once owned by legendary crooner Frank Sinatra.

Malibu, California

Ellison owns a home on Malibu's Carbon Beach that he bought in 2017 for $48 million. The 7,700 square foot home has a pool and a tennis court.

Rancho Mirage, California

Ellison owns Porcupine Creek, a 246-acre estate that he plans to turn into a luxury resort for the uber-wealthy. He bought the property for $43 million in 2011. It has an 18-hole golf course and 18,430 square foot house. Ellison doesn't play golf.

Lanai, Hawaii

Ellison bought 98% of this Hawaiian island in 2012 for $300 million. The 141-square miles include two Four Seasons resorts. He's put $500 million into his investment and reportedly, the locals approve of the improvements he's been making.

Newport, Rhode Island

Ellison owns a number of homes in this exclusive seaside community. His main home, the Beechwood Mansion, once belonged to the Astor family. It was built in 1851 and the Astors acquired it in the 1880s. Ellison bought the home for $10.5 million in 2010 and has reportedly spent more than $100 million converting it into a museum.

Palm Beach, Florida

Ellison's newest acquisition is the $80 million Palm Beach estate he recently purchased. Reportedly, he plans to tear down the existing house and build something new on the land.

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